EUR/USD fell sharply to just below 1.0900 during the European session on Wednesday (3/19) after posting a fresh five-month high near 1.0955 the previous day. The major currency pair weakened as the US Dollar (USD) performed strongly ahead of the Federal Reserve (Fed) interest rate decision at 18:00 GMT. The US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, jumped to near 103.70 after hitting a five-month low around 103.20 on Tuesday. According to the CME FedWatch tool, the Fed is almost certain to keep the benchmark lending rate unchanged in the...
Oil prices fell on Wednesday after Russia agreed to U.S. President Donald Trump's proposal that Moscow and Kyiv halt attacks on each other's energy infrastructure, a move that analysts said could eventually pave the way for Russian oil to enter global markets. Brent crude futures fell 11 cents, or 0.16%, to $69.97 a barrel by 1130 GMT. U.S. West Texas Intermediate (WTI) crude futures fell 12 cents, or 0.18%, to $66.78. Russian President Vladimir Putin on Tuesday agreed to halt attacks on Ukrainian energy facilities but stopped short of a full 30-day ceasefire that Trump had sought. "Crude...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against a basket of six major currencies, rose and recovered above 103.50 at the time of writing on Wednesday (3/19) as the US Dollar (USD) strengthened against most major currencies. The surge in the Greenback followed a sharp surge of more than 5% in the USD against the Turkish Lira (TRY) after headlines emerged that authorities had detained Istanbul Mayor Ekrem Imamoglu, a key political rival of President Tayyip Erdogan, on charges including corruption and aiding a terrorist group. On the economic data front,...